San Diego, CA - The ICFE s online bookstore (www.icfe.info) does not accept Discover Cards, just American Express, MasterCard and Visa.
The reason is simple, DISCOVER Card maintains a hostile attitude towards credit counseling and financial education with regards to their cardholders who may become delinquent.
DISCOVER Card, unlike the others, will not reduce its 17-22+ percent interest rate, for their customers who enter into a debt payment plan (DMP).
Further, DISCOVER Card does not support credit counseling and financial education, because they offer little or no fair share payments back to the credit counselors who collect the payments from Discover's delinquent clients. Most creditors pay an average fair share of about 6.5 percent/
Many consumers who become delinquent on credit card payments, for a variety of reasons, both understandable and unreasonable, contact a local consumer credit counseling service to help them get back on track, where it is possible.
Most will enroll in what is known as a debt payment plan or DMP. In the DMP, participating credit card issuers will lower their high interest rates to around six percent on average, accept lower payments and often agree to drop late fees and over limit fees. The credit counseling agencies administer the program, collect the payments and forward them to the creditors.
Discover Card does not lower interest rates and offers little or no fair share payments.
The following statement now appears on the ICFE s Web site:
Notice to our valued customers:
The ICFE does not accept DISCOVER Card due to their hostile attitude towards bona fide credit counseling and financial education organizations.
For more information contact Paul Richard, RFC - ICFE Executive Director : 619-239-1401